Boston commercial real estate news BostonSF reported yesterday that there’s continued good news for the local commercial real estate market. There’s no direct tie between the residential and commercial markets – but it’s good news for the local economy nonetheless.
According to the advisory firm Richards Barry Joyce & Partners, vacancy rates have decreased 0.1% to 15.9% during the current quarter.
“The Greater Boston commercial office market is balancing somewhere along the boundary of stabilizing and strengthening,” said Brendan Carroll, senior vice president of research, Richards Barry Joyce & Partners. “It’s particularly good to see two consecutive quarters of better numbers. Like the general economy, there are very good signs of growth and improvement but it’s not yet across the board.”
File under: Light at the end of the tunnel.